I just found a pretty good offer in one of my Citibank credit card statements. (I still get paper bills for everything, it’s my longtime system for paying them on time.)
If I open up a new Citibank Ultimate Savings account + Checking account with at least $25,000 by 4/30 and complete a direct deposit for 3 consecutive months, I can get 40,000 ThankYou Points which can be converted into two roundtrip airlines tickets worth up to $400 each. Here is a scan of the offer. Offer code is CEJT. However, note the very first line states that “this offer is only available to individuals to whom this communication is addressed”, so please check your statements and save it to avoid hassles later. I would think most others would get it as well, since I am probably one of Citibank’s less-profitable customers and I got it.
The Ultimate Savings account pays 3.25% APY if you do two online billpays per month, 2.51% APY otherwise. The attached checking account has no monthly fee if you connect it to the Ultimate Savings account. This seems like a pretty good deal because the interest paid is competitive with other online savings accounts, and I can get up to $800 worth of airplane tickets on top of that (worth at least another 2% APY). Of course, you’ll need to have $25,000 to commit. Ironically, much of the $25,000 I’m going to put into this account is Citibank’s own money that they let me borrow at 0% APR!
Update: I found a version of the 40,000 point offer online. Offer code CSZ2. Two important differences: (1) accounts must be opened by 3/31/08 and (2) it is valid for existing Ultimate Savings account if you add in another $25k.